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HLL
net rises 7 per cent in Q4
Mumbai: FMCG giant Hindustan Lever Ltd (HLL) on
Wednesday announced a 6.9 per cent increase in net profit
after exceptional items for the fourth quarter ended December
31, 2002, over the corresponding quarter of last year,
while net sales declined by 2.3 per cent, essentially
due to phasing out of traded exports.
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BSNL
set to trigger ISD rate war
New Delhi: BSNL, the incumbent state-owned basic
service provider for all circles other than Delhi and
Mumbai, has obtained on Wednesday night a licence to operate
in the international long-distance segment.
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L&T
puts CDC plan on hold, to take up Grasim
proposal first
Mumbai: The board of Larsen & Toubro will meet
in next two to three weeks to discuss the demerger of
its cement business and revised proposal submitted by
CDC Capital Partners and an alternate one presented by
Grasim Industries.
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DRL
drops three new compounds
Hyderabad: Hyderabad-based Dr Reddy's Laboratories
has dropped three new compounds from its research pipeline
that were undergoing or had completed pre-clinical development
or animal trials.
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Zydus
sets German Rem swap at 7:4
Mumbai: The Zydus group on Wednesday announced
a swap ratio of 7:4 for shareholders of German Remedies
(GRL) which has been merged with the group flagship company
- Cadila Healthcare (CHL).
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Jindal
Strips to hive off stainless steel facility
New Delhi: The OP Jindal group on Wednesday decided
to demerge its stainless steel operations into a new company,
Jindal Stainless, in a bid to reduce cost of capital,
while vesting all non-core investments, worth Rs 250 crore,
with Jindal Strips.
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M&M
posts 16 per cent rise in net at Rs
30.8 cr
Mumbai: Mahindra & Mahindra has registered
a 15.96 per cent rise in net profit at Rs 30.79 crore
for the December-ended third quarter as against Rs 26.55
crore for the same period in the previous year.
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MRF
net zooms 120 per cent in Q1
Kolkata: Tyre major MRF Ltd on Wednesday reported
a 120 per cent rise in net profit to Rs 20.18 crore for
the first quarter ended December 31, 2002. The net profit
of the company stood at Rs 9.16 crore during the corresponding
quarter previous year.
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HLL
plans more investment in foods division, foray into water
business
Mumbai: With consolidation in its foods division
coming close to completion, Hindustan Lever Ltd has decided
to now focus on investing in the business. The foods division
has witnessed a decline in revenues.
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Export
orders push L&T net up 47 pc
Mumbai: Larsen & Toubro (L&T) reported
a 47 per cent increase in net profit year on year for
the quarter ended December 31, 2002; the net profit stood
at Rs 80.67 crore, up from Rs 54.51 crore.
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Nirma
Q3 net up at Rs 64 cr
Mumbai: Nirma Ltd has posted a net profit of Rs
64.31 crore on net sales of Rs 536.3 crore for the third
quarter ended December 2002. This reflects a 21 per cent
rise in net profit from Rs 53.17 crore in the corresponding
period last year.
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Gulf
Oil net quadruples on higher sales
Hyderabad: GULF Oil Corporation Ltd, the Hyderabad-based
Rs 278-crore company specialising in explosives, lubricants
and building products formerly known as IDL Industries,
has posted a growth of 95 per cent in sales turnover and
344 per cent in net profit.
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Apollo
Hospitals Q3 PAT up 11.5%
Chennai: Apollo Hospitals Enterprises' profit after
tax for the quarter ended December 2002 was Rs 6 crore,
higher than the corresponding period of the previous year
by 11.5 per cent.
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Grand
Group income up at Rs 21.2 cr
Mumbai: The Grand Group of Hotels, owned by Bharat
Hotels Ltd, has recorded a gross operating profit of Rs
4.09 crore for the third quarter of the financial year
2002-03, compared to Rs 1.41 crore recorded during the
same period in the previous year.
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IOC
records Rs 777-crore net profit
New Delhi: Indian Oil Corporation (IOC) has recorded
a net profit of Rs 777 crore on a gross turnover of Rs
30,625 crore for the third quarter of the current fiscal
ended December 31, 2002.
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Blue
Star Q3 net up at Rs 3.4 cr
Mumbai: Blue Star Ltd has posted a net profit of
Rs 3.38 crore for the quarter ended December 31, 2002
compared to Rs 72 lakh in the corresponding period last
year. The company has recorded net sales of Rs 114.23
crore as against Rs 98.64 crore.
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Cadila-German
Remedies merger swap fixed at 7:4
Ahmedabad: The boards of directors of Cadila Healthcare
Ltd (CHL), German Remedies Ltd (GRL), Recon Healthcare
Ltd, Zydus Pathline Ltd and Zoom Properties Ltd have approved
the scheme of amalgamation of the respective companies
into CHL and kept the appointed date as April 1, 2002,
subject to requisite approvals.
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Asian
Paints plans to set up unit at Pondy
New Delhi: Asian Paints India Ltd proposes to set
up a unit for the manufacture of 1,00,000 tonnes per annum
of paints at Pondicherry.
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Reliance
Life in pact with Thyrocare
Mumbai: Reliance Life Sciences has tied up with
the Thane-based thyroid-testing laboratory Thyrocare Technologies
Ltd to offer DNA-based genetic testing services.
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To
deny voting rights to Indian shareholders - Coke knocks
at FIPB doors
New Delhi: Coca-Cola has approached the Foreign
Investment Promotion Board (FIPB) seeking permission to
deny voting rights to the company's resident Indian equity
holders.
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